Harvey Partners LLC Has $45.15 Million Stock Position in Waste Connections, Inc. (NYSE:WCN)

Harvey Partners LLC boosted its position in Waste Connections, Inc. (NYSE:WCN) by 17.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 252,500 shares of the business services provider’s stock after buying an additional 37,500 shares during the quarter. Waste Connections makes up about 5.1% of Harvey Partners LLC’s holdings, making the stock its 2nd biggest position. Harvey Partners LLC owned about 0.10% of Waste Connections worth $45,152,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Global Trust Asset Management LLC bought a new position in Waste Connections during the 3rd quarter worth about $36,000. FSA Wealth Management LLC acquired a new stake in shares of Waste Connections in the 3rd quarter valued at about $40,000. Asset Dedication LLC purchased a new stake in Waste Connections in the 3rd quarter valued at about $41,000. Signature Resources Capital Management LLC bought a new stake in shares of Waste Connections in the second quarter valued at approximately $45,000. Finally, Kennebec Savings Bank purchased a new stake in Waste Connections in the third quarter valued at approximately $47,000. Institutional investors own 86.09% of the company’s stock.

Waste Connections Trading Down 0.9 %

Shares of Waste Connections stock opened at $190.83 on Tuesday. Waste Connections, Inc. has a 52-week low of $137.25 and a 52-week high of $194.83. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 0.77. The stock’s 50-day simple moving average is $182.31 and its 200 day simple moving average is $178.68. The stock has a market capitalization of $49.25 billion, a P/E ratio of 52.43, a P/E/G ratio of 3.21 and a beta of 0.74.

Waste Connections (NYSE:WCN) last announced its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.05. Waste Connections had a return on equity of 15.43% and a net margin of 10.81%. The company had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter last year, the company earned $1.17 EPS. The company’s quarterly revenue was up 13.3% on a year-over-year basis. As a group, research analysts anticipate that Waste Connections, Inc. will post 4.84 EPS for the current year.

Waste Connections Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were given a dividend of $0.315 per share. The ex-dividend date of this dividend was Thursday, November 7th. This is a positive change from Waste Connections’s previous quarterly dividend of $0.29. This represents a $1.26 dividend on an annualized basis and a yield of 0.66%. Waste Connections’s payout ratio is 34.62%.

Analysts Set New Price Targets

WCN has been the subject of a number of recent analyst reports. Oppenheimer boosted their price objective on shares of Waste Connections from $191.00 to $194.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Eight Capital raised shares of Waste Connections to a “hold” rating in a report on Wednesday, October 9th. Royal Bank of Canada lifted their price target on Waste Connections from $199.00 to $201.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Citigroup lifted their price target on Waste Connections from $190.00 to $195.00 and gave the stock a “neutral” rating in a report on Thursday, October 3rd. Finally, Scotiabank assumed coverage on shares of Waste Connections in a report on Friday, October 4th. They issued a “sector perform” rating and a $196.00 target price for the company. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Waste Connections currently has a consensus rating of “Moderate Buy” and a consensus price target of $195.56.

About Waste Connections

Waste Connections, Inc provides non-hazardous waste collection, transfer, disposal, and resource recovery services in the United States and Canada. It offers collection services to residential, commercial, municipal, industrial, and exploration and production (E&P) customers; landfill disposal services; and recycling services for various recyclable materials, including compost, cardboard, mixed paper, plastic containers, glass bottles, and ferrous and aluminum metals.